RBI allows NRIs to subscribe to National Pension System

RBI allows NRIs to subscribe to National Pension System

The Reserve Bank of India (RBI) has allowed non-resident Indians (NRIs) to subscribe to the National Pension System (NPS) enabling them access old age income security. RBI has taken this decision in consultation with Union Government under the Prime Minister Narendra Modi’s efforts to appease NRIs.

WCD Ministry launched initiative to spread awareness about Beti Bachao Beti Padhao Scheme

The Union Ministry of Women and Child Development on 29 October 2015 launched a new initiative to spread awareness about the Beti Bachao Beti Padhao (BBBP) Scheme.

The initiative was launched in partnership with Celltick Mobile Media India Pvt. Ltd. to generate awareness about BBBP Scheme to an estimated 100 million mobile users in India.

 

Global Tuberculosis Report 2015 released by WHO

World Health Organization (WHO) on 28 October 2015 released Global Tuberculosis Report 2015 in Washington. This is the twentieth global report on tuberculosis (TB) that started in 1997. 

The 2015 edition focuses on whether 2015 global TB targets set in the context of the Millennium Development Goals (MDGs) were achieved worldwide and at regional and country levels.

Amit Kumar won silver in men's club throw F51 event of IPC Athletics World Championships

Indian para-athlete Amit Kumar Saroha on 28 October 2015 won silver medal in men's club throw F51 event in the IPC Athletics World Championships in Doha. With this, Amit sealed a berth for 2016 Rio Paralympic Games.

Saudi blogger Raif Badawi awarded 2015 Sakharov Prize for Freedom of Thought

Saudi blogger Raif Badawi on 29 October 2015 awarded Sakharov Prize for Freedom of Thought for the year 2015.

An announcement in this regard was made by the President of European Parliament Martin Schulz at European Parliament assembly in Strasbourg, France; Subsequently, Schulz appealed to Saudi King Salman to free him, so he can accept the prize.

Today Current Affairs

New Book Launched by former Pakistan Foreign Minister Khurshid Mahmud Kasuri

New Book Launched by former Pakistan Foreign Minister Khurshid Mahmud Kasuri is “Neirther Hawk Nor a Dove”. An insider’s Account of Pakistan Foreign Policy.

Dell to buy EMC in $ 67 b deal

Dell had agreed to buy data storage company EMC Corp in a $67 billion record technology deal that will unite two mature companies and create an enterprise tech powerhouse.

“Dell wants to become the old IBM Corp, a one stop shop for corporate clients. That model fell apart a couple of decades ago. Reviving it would be a stunning Coup for Dell,” said Erik Gordon.

 Industrial output up 6.4%  in Aug. CPI inflation at 4.4%  in September

Growth in retail inflation accelerated to 4.4 percent in September following three months of decelaration.

South Asian Games 2016 re-scheduled

The South Asian Asian Games 2016, which was originally scheduled between January 10 and 20  at Guwahati and Shilong, is now set to take place in the second fortnight of February. The decision was taken ananimously at a meeting of the South Asian Olympic Council here on Sunday.

Nobel Prize for physics

This year it is awarded in equal share to Mr. Takaaki Kajita and Arthur B. Mcdonald or the discovery of neutrino oscillations, which shows that neutrinos have mass.

Major question remains about ordering of relative masses of neutrinos, which needs to be taken care of in India based neutrino observatory (INO) detector.

Nobel Prize for economics

Nobel Prize in economics has been awarded to Mr. Angus Deaton. He is known for his work on consumption, poverty and welfare. He conducted extensive research in-

·       Health Care Delivery in Rural Rajasthan (with Abhijit Banerjee and Esther Duflo).

·       Food and nutrition in India: Facts and Interpretations

He was born of in Edinburgh, Scotland and went to same school as Tony Blair. He studied in Cambridge, where he taught and at present he is at Princeton University.

CURRENT AffAIRS FOR SSC/BANK EXAMINATION

 1.   Literature Nobel goes to Svetlana Alexievich

I.            Svetlana Alexievich is a Belarussian journalist and prose writer, have been awarded the Nobel Prize in Literature on Thursday “for her polyphonic writings, a monument to suffering and courage in our time.”

II.            Ms. Alexievichis the 14th woman to win the literature prize. This 67 year old generalist is born to a Belarussian father and a Ukrainian mother. Ms. Alexievich is best known for giving voice to survivors of the Second World War, the Soviet occupation of Afghanistan that lasted from 1979 to 1989, and the Chernobyl nuclear disaster of 1986.

III.         Her first novel, “The Unwomanly Face of the War,” published in 1985 and based on the previously untold stories of women who had fought against the Nazi Germans, sold more than 2 million copies.

IV.         Her books have been published in 19 countries. She also has written three plays and the screenplays for 21 documentary films. The Swedish Academy cited Alexievich “for her polyphonic writings, a monument to suffering and courage in our time.”

V.           Last year's literature award went to French writer Patrick Modiano.

 2.   Hoesung Lee is new Chairman of IPCC:

                    I.        Hoesung Lee, a native of South Korea, has been designated as the new head of the Intergovernmental Panel on Climate Change (IPCC). IPCC is the UN body assigned for assessing climate science.

                  II.        Prof Lee, an expert on climate economics and sustainable development, was elected to chair the panel at its ongoing meeting in Dubrovnik, Croatia, fourth person to lead the IPCC in its 27-year history.He succeeds Rajendra Pachauri, who resigned amid a scandal in February.

 3.   UnionCabinet approved Protocol on Double Taxation Avoidance with Israel and Vietnam.

India & Vietnam

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has approved the Protocol amending the Agreement between India and Vietnam for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income. 

The Protocol provides for internationally accepted standards for effective exchange of information on tax matters including bank information and information without domestic tax interest. It is further provided that the information received from Vietnam in respect of a resident of India can be shared with other law enforcement agencies with authorisation of the Competent Authority of Vietnam and vice versa.

Background-

The existing Double Taxation Avoidance Agreement (DTAA) between Indian and Vietnam was signed in 1994. Both the Indian and Vietnamese sides agreed to update Article 27 on the ‘Exchange of Information’ in India-Vietnam DTAA, to meet internationally accepted standards, and add a new Article on ‘Assistance in the Collection of taxes’, and enter into an Amending Protocol for the purpose. 

India & Israel:

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has approved the protocol amending the Convention and the Protocol between India and Israel, for avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income and on capital.

The Protocol provides for internationally accepted standards for effective exchange of information on tax matters including bank information and information without domestic tax interest. It is further provided that the information received from Israel in respect of a resident of India can be shared with other law enforcement agencies with authorisation of the Competent Authority of Israel and vice versa.

The Protocol further provides for 'Limitation of Benefits' Article as an anti-abuse provision aimed at preventing misuse of the Convention. The provisions of this Article enable use of the provisions of domestic law and measures concerning tax avoidance or evasion in the event of misuse of the Convention.

Background:
The existing Double Taxation Avoidance Convention (DTAC) between Indian and Israel was signed in 1996. Both the Indian and Israeli sides agreed to update Article 27 on the ‘Exchange of Information’ in India-Israel DTAC to meet internationally accepted standards.

Today Current Affairs

Indian Railways develops Hybrid Vacuum Toilets

Indian Railways has developed a Hybrid Vacuum Toilet design which combines the advantages of Vacuum toilets and those of Biotoilets. The first of its kind system in the world has been developed by the Development Cell of Indian Railway Board. This newly developed toilet facility has been fitted on trial basis in Dibrugarh Rajdhani.

Metro Man E Sreedharan to serve UN High Level Advisory Group on Sustainable Transport

Metro ManElattuvalapil Sreedharan has been invited to the United Nations’ High Level Advisory Group on Sustainable Transport (HLAG-ST). He has been invited by UN Secretary General Ban Ki-moon to serve on his HLAG-ST for a period of three years. Mr. E Sreedharan has accepted this offer.

Veteran Marathi cricket commentator Bal Pandit passes away

Veteran cricket Marathi commentator Bal Pandit passed away in Pune, Maharashtra. He was 89. He is considered as pioneer of cricket commentary in Marathi who had made the game more popular in Maharashtrian households.

PM Narendra Modi launches IPDS in Varanasi to ensure 24×7 power supply to every house

Veteran cricket Marathi commentator Bal Pandit passed away in Pune, Maharashtra. He was 89. He is considered as pioneer of cricket commentary in Marathi who had made the game more popular in Maharashtrian households.

Current Affairs Today Current Affairs

Current Affairs 17^th & 18^th September

Union Government launches PMKKKY for mining affected people

Union Government has launched the PradhanMantri Khanij Kshetra Kalyan Yojana (PMKKKY) for the welfare of people affected by mining related operations. The new scheme is meant to provide for the welfare of people and areas affected by mining related operations by using the funds collected by District Mineral Foundations (DMFs).

Perumanna Grama Panchayat becomes first Panchayat in Kerala to declare a Water Policy

Perumanna GramaPanchayat in Kozhikode district of Kerala has become the first Panchayat in the State, to declare its own water policy. The water policy has been framed in the lines of the State government’s water policy declared in 2008.

Afghan refugee teacher Aqeela Asifi named for 2015 UNHCR Nansen Refugee Award

Afghan refugee teacher Aqeela Asifi has won the 2015 United Nations High Commissioner for Refugees (UNHCR) Nansen Refugee Award. As a teacher, she has been recognised for her tireless and brave dedication to educate Afghan refugee girls in the Kot Chandana refugee village in Mianwali, Pakistan by overcoming the struggles of life in exile. Asifi is a former teacher who fled from Kabul, Afghanistan with her family in 1992 for finding safety in the remote refugee settlement of Kot Chandana in Pakistan. In the refugee camp she started teaching Afghan refugee girls by overcoming strict conservative cultural traditions which does not allow Afghan women to learn.

RBI approves 10 entities to set up Small Finance Banks

The Reserve Bank of India (RBI) has granted in principle approval to 10 entities to set up small finance banks to provide basic banking services to small farmers and micro industries. The in-principle approval will enable these entities comply with the guidelines on Small Finance Banks and will be valid for 18 months. 10 entities are: Au Financiers (India) Ltd, Capital Local Area Bank, Disha Microfin Private Ltd, Equitas Holdings P Limited, ESAF Microfinance and Investments Private Ltd, Janalakshmi Financial Services Private Limited, RGVN (North East) Microfinance Limited, Suryoday Micro Finance Private Ltd, Ujjivan Financial Services Private Ltd and Utkarsh Micro Finance Private Ltd. As per RBI guidelines, the small finance banks can provide basic banking services in order to promote financial inclusion. It will include services like accepting deposits and lending to the unbanked sections such as micro business enterprises, small farmers, micro and small industries and unorganised sector entities.

Today Current Affairs

RBI, Nepal Rastra Bank ink MoU for supervisory information exchange

Reserve Bank ofIndia (RBI) has inked a Memorandum of Understanding (MoU) with the Nepal Rastra Bank (NRB) on Supervisory Cooperation and Exchange of Supervisory Information. The MoU was signed by RBI’s Executive Director Meena Hemchandra and Nepal Rastra Bank’s Executive Director Narayan Prasad Paudel in New Delhi. By signing the MoU, RBI is seeking to promote greater co-operation and share supervisory information among the authorities. So far RBI has signed 27 such MoUs, one Letter for Supervisory Co-operation (LSC) and one Statement of Co-operation (SoC) in this regard.

Gujarat tops in ease of doing business in India: World Bank Report

Gujarat has been placed to top position in World Bank’s first ever ranking of States on the ease of doing business in India. The World Bank report titled Assessment of State Implementation of Business Reforms was released in New Delhi under the aegis of the Confederation of Indian Industry (CII). The inaugural edition of report reflected the ease of doing business in all Indian States at sub-regional level.

14 September: National Hindi Divas

National Hindi Divas (हिंदी दिवस) is an annual literary-day celebrated on 14 September in Hindi speaking regions of India and other countries with Hindi speaking population. Significance: It seeks to propagate Hindi language and its cultural heritage and values. It also seeks to promote the Matra Bhasha i.e. mother tongue of India and show its importance as a language in the country and the world at large. On the occasion of 2015 Hindi Divas, President Pranab Mukherjee presented Rajbhasa awards in various categories at a function held at Rashtrapati Bhavan. These Rajbhasa awards are instituted by the Rajbhasha Vibhag of Union Ministry of Home Affairs and recognize Ministries, Departments and Nationalized Banks and others for their excellent contribution in the field of Hindi.

Andhra Pradesh Government unveils ‘New Tourism Policy-2015- 20’

Andhra Pradesh Government has unveiled ‘New Tourism Policy-2015-20‘ to boost tourism sector in the state. It was unveiled by Chief Minister N Chandrababu Naidu at a function held in Vijayawada. The policy has been framed with support from various government departments, industry experts, inputs from Indian School of Business and consultancy firm KPMG.

Current Affairs of 10th September, 2015

[10/09/2015]

 Union Cabinet approved 100 percent FDI in white label ATMs through automatic route

The Union Cabinet on 9 September 2015 approved 100 percent Foreign Direct Investment (FDI) in white label Automated Teller Machines (WLAs). White label ATMs are those that are being set up by non-bank entities.

In contrast to the earlier norm of going through the approval route, this decision by the cabinet allows foreign investments through the automatic route.

However, any non-bank entity intending to set up WLAs should have a minimum net worth of 100 crore rupees as per the latest financial year's audited balance sheet, which is to be maintained at all times.

Election Commission of India announced election dates for Bihar Assembly polls

Election Commission of India(ECI) on 9 September 2015 announced the election dates for Bihar Assembly polls. The election to be held in 5 phases between 12 October and 5 November 2015 and counting will take place on 8 November 2015. The elections will be held as the five year term of the current Assembly is due to expire on 29 November 2015.

With this announcement of the dates, the Model Code of Conduct has come into force with immediate effect. The elections will see deployment of central paramilitary forces at all polling booths to oversee the effective management of the electoral process at the field level mainly in respect of voter awareness and facilitation.

Bihar has a total of 243 assembly seats, of which 38 are reserved for Scheduled Castes and 2 for Scheduled Tribes. 47 constituencies are affected by Left Wing Extremism. A total of 62779 polling stations will be set up for 6.68 crore electorates. 

Besides, this is the first time when the EVMs will be carrying photos of the candidates in any general election to prevent the namesake problem.

Acclaimed writer Jhumpa Lahiri awarded with 2014 National Humanities Medal by White House

Short story writer and novelist Jhumpa Lahiri was on 3 September 2015 named as a recipient of the 2014 National Humanities Medal by the White House, United States. The medal will be conferred onto her by President Barack Obama at a ceremony at the White House later in September 2015.

Current Affairs, Today Current Affairs

5th September: National Teachers Day

Every year in India 5th September is being observed as National Teachers Day. Significance of Day: This day commemorates the birthday of India’s first Vice President and second President Dr Sarvepalli Radhakrishnan. This year’s celebration: On occasion of National Teachers Day, Prime Minister Narendra Modi releasesed commemorative coins of 125 rupees and 10 rupees denomination in honour of former President S Radhakrishnan.

•  Important Posts: First Vice President of India (in office from 1952–1962),
• Ø  Second President of India (in office from 1962 to 1967).
• Ø  Awards: He was honoured with Bharat Ratna (1954), British Royal Order of Merit (1963) etc.

Ø 

Jhumpa Lahiri selected for 2014 National Humanities Medal

Indian-American Pulitzer Prize winner Jhumpa Lahiri has been selected for the prestigious 2014 National Humanities Medal of White House. She has been selected for this award for enlarging the human story and will be presented with it by US President Barack Obama. The award also recognizes her fictional works which have illuminated the Indian-American experience in beautifully wrought narratives of estrangement and belonging.

Latest Current Affairs

[03/09/2015]

India to launch Indonesian satellite LAPAN A2/Orari

India will launch Indonesia’s second multi-spectral remote sensing satellite LAPAN A2/Orari. The satellite will be launched by Indian Space Research Organization (ISRO) from the Satish Dhawan Space Center in Sriharikota, Andhra Pradesh on September 27, 2015. About LAPAN A2/Orari satellite It is Indonesia’s domestically-made satellite and is successor to LAPAN A1/Tubsat satellite. It was produced entirely by the National Institute of Aeronautics and Space (LAPAN) of Indonesia in 2012. Satellite on its board is equipped with an automatic packet reporting system to aid disaster mitigation especially for monitoring floods, changes in the sea level and movements of the population. It will orbit the Earth along the equator with an altitude of 650 kilometers. It will encircle the Earth 14 times a day and travel at 7.5 kilometers per second. Functions: It will work to monitor land usage, ship movements, sea resources, fishing explorations, natural resource and disaster mitigation

.

[04/09/2015]

RBI to issue Rs 5 coin on golden jubilee of 1965 Indo-Pak war

Reserve Bank of India (RBI) has decided to issue coins of 5 rupees denomination to commemorate golden jubilee year of Indo-Pak War 1965. These coins will be issued under in The Coinage Act, 2011 and will be considered as legal a tender.

Reserve Bank of India (RBI) has decided to issue coins of 5 rupees denomination to commemorate golden jubilee year of Indo-Pak War 1965. These coins will be issued under in The Coinage Act, 2011 and will be considered as legal a tender. Features of Coin Obverse side: It will bear Lion Capital of Ashoka Pillar in the centre and Satyamev Jayate will be inscribed below it. Reverse side: In the centre it will bear image of ‘Amar Jawan’ monument along with the design of olive leaves branch on its left and right sides. The year 2015 will be written below the image of the monument. It will bear inscription ‘VALOUR ANDSACRIFICE’ in English on the right upper periphery and ‘Veerata Aur Balidan’ in Devnagri script on the left upper periphery. GOLDEN JUBILEE 1965 OPERATIONS in English will be inscribed on the lower periphery on the reverse side of coin.

Latest Current Affairs 2015

[24^th  August]

Gujarat to become 1st state to launch ‘Agro-Solar Policy’

Gujarat is set to become the first state in India to launch ‘Agro-Solar Policy’ to encourage the farmers to tap the solar energy. The new policy seeks to encourage the farmers in the state to tap free solar energy from sun, which will in turn help them to earn additional income from power generation companies.

Bandhan, first micro finance company to start operation as a commercial bank

Bandhan Bank has become the first micro-finance company in India to start operation as full-fledged scheduled commercial bank. The bank was inaugurated by Union Finance Minister Arun Jaitley in Kolkata, ushering in a new era in country’s banking sector to reach out to the unbanked population.

 CURRENT AFFAIRS

India’s Current Foreign Exchange Reserves: $311.427 billion

1. India’s forex reserves continued their downward journey for the fifth consecutive week, India’s foreign exchange reserves plunged by $2.754 billion to $311.427 billion in the week to October 3. The largest fall is seen in US currency assets which make a big component of the overall reserves. During the last quarter under review, this drop in forex was basically due to drop in valuation of Indian rupee on the back of a stronger US currency against other global currencies and talks of withdrawal of quantitative easing by the US. The Federal Reserve has now deferred its tightening programme to next year, helping rupee to regain some of its lost ground this week.

The foreign currency assets, incorporate the effect of both appreciation and depreciation of many non-US currencies also, which are held in reserves.
Even the gold reserves showed a negative trend after being stable for weeks. The reserves fell by $919.7 million. Other components include special drawing rights and India’s reserve position in the IMF which decreased by $22.8 million and $8.2 million to $4.284 billion and 1.540 billion, respectively.

Components of Foreign Reserves

The components of Foreign Reserves in decreasing order are Foreign Currency Assets, Gold, SDRs (Special Drawing Rights) and Reserve Position in IMF Trench.

Banking, Current Economic Data, Economy, Foreign Exchange Reserves, IMF,Reserve Bank

Industrial Output slows down to five-month low of 0.4 per cent in August 2014

                                    

Industrial production growth has taken a hit from the contraction in manufacturing output and consumer goods sectors. The Index of Industrial Production (IIP) has shown a dismal rate of growth of 0.4%. IIP which is a measure of the short-term changes in the industrial activity in the country covers sectors like mining, manufacturing, electricity and a basket of 682 products depending on the contribution of the same to the total output of the country. The data though released on every month, is usually gauged every year. Industry comprises a major part of India’s GDP; the indicator is a measure of the health of the industry. A robust industrial activity reflected in IIP makes a considerable impact on GDP and investor sentiment.

                                                                                                            

                                                FOR ANY QUERY:- www.acmeentranceexpert.com

                                                                   CALL:- 9810513909